Combine the cream cheese, cheddar cheese, bacon, and jalapenos in a small bowl; mix well.
Cut a pocket horizontally through the thickest side of each chicken breast; fill with 1/4 of the cheese mixture. Secure with toothpicks. Tip: If breasts are thick, before slitting, slightly poud the thickest part of the breast side. It, also, makes for a larger pocket. Don't pound too thin.
Combine Panko bread crumbs, garlic powder, onion powder, pepper and Parmesan; place on a piece of waxed paper.
Beat egg and water in a shallow bowl.
Dip stuffed chicken breast in egg mixture, then into Panko mixture, coating well.
Heat oil in a large skillet over medium-high heat. Brown chicken breasts on both sides until golden; place on a foil lined shallow baking sheet.
Bake at 350 degrees in a preheated oven for about 15 minutes or until chicken is cooked through and juices run clear.